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Sugar prices exhibited significant negative movement in the previous trading session, bringing them closer to the anticipated target at 26.08. Further downward correction is expected, potentially reaching the next target at 25.55.
Consequently, our bearish outlook remains in place and active for the near future. This viewpoint is supported by the bearish pressure exerted by the EMA50. It’s worth noting that the continuation of the bearish trend necessitates remaining below the 26.74 level.
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The expected trading range for today is projected between the support at 25.80 and the resistance at 26.45.
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Anticipated Market Trend for Today: Bearish
